There looks to be more jobs on their way to Ireland. It was reported earlier today that drugs giants Pfizer and Allergan have agreed to merge in a $160 billion (€150 billion) deal that will create the world’s biggest drug manufacturer.
The company’s official tax base will be moved from the US to Ireland. The move will allow the company take advantage of Ireland’s 12.5% corporate tax rate – rather than the top nominal rate of 35% in its home country.
The combined company will be renamed Pfizer PLC.